Small Business Chapter 11 Filings Increase 50% Year Over Year

Saudi, Turkish, Pakistani Military Chiefs To Hold Urgent Meeting Over Yemen War Saudi, Turkish and Pakistani army heads are set to urgent talks on the Yemen crisis. Crucially, these countries represent signatories to the Mecca Defense Pact, which vows mutual defense in the instance that any member is attacked. Of course, the Iran-aligned Houthis have been semi-frequently targeting the Saudi kingdom's territory, gong after oil export infrastructure as well as fuel storage sites, with ballistic missiles even targeting the capital of Riyadh this month, which marked a first. Anadolu/Getty ImagesAhead of the...

"Just Another Dip Investors Will Buy": Futures Drop, Oil Rises On Renewed Iran Tension US futures whipsawed and crude oil spiked higher as tensions flared up again in the Middle East, taking the focus off a run of strong earnings by megacap tech companies. As of 8:00am ET, S&P and Nasdaq 100 futures dropped 0.2% from Friday's record highs, falling as much as 0.5% just minutes earlier after Iran’s Fars agency claimed two missiles hit an American patrol boat, before erasing most of the declines after the US denied a...

Gulf Energy Shock Spreads To Global Plastics As War Sparks Force Majeure Wave Building on our earlier "Global Demand Destruction" note, which mapped how the Gulf energy shock is spreading globally and the immediate effects of rationing, price controls, and fuel shortages, another second-order disruption is quickly emerging: supply chain disruptions in critical plastic feedstocks. Plastics are core to the modern economy, and a troubling new Bloomberg report indicates that several producers of monoethylene glycol (MEG) and purified terephthalic acid (PTA) have declared force majeure, as tanker flows through the Strait...